Latest Ratios: P/E Ratio 13.0x · EV/EBITDA 11.1x · ROE 12.8%. (2011–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $15.1B | $16.9B | $15.8B | $11.3B | $9.2B | $15.3B | $7.0B | $7.9B | $9.0B | $8.0B | $6.6B |
| Enterprise Value | $15.6B | $17.5B | $17.9B | $13.7B | $11.6B | $16.7B | $8.0B | $7.7B | $8.9B | $6.3B | $5.1B |
| P/E Ratio → | 13.00 | 14.36 | 59.93 | 75.00 | 14.84 | 46.02 | — | 51.88 | — | — | 37.83 |
| P/S Ratio | 1.79 | 2.00 | 1.92 | 1.41 | 0.89 | 1.63 | 0.77 | 0.79 | 1.00 | 0.98 | 0.80 |
| P/B Ratio | 1.63 | 1.80 | 1.75 | 1.26 | 1.01 | 1.67 | 0.83 | 0.77 | 0.86 | 0.72 | 0.56 |
| P/FCF | 20.79 | 23.30 | 26.26 | 19.03 | 10.80 | 18.05 | 20.39 | 22.28 | 22.98 | 33.47 | 9.50 |
| P/OCF | 13.33 | 14.94 | 14.40 | 10.34 | 6.82 | 12.36 | 8.94 | 8.55 | 11.93 | 16.12 | 6.94 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.07 | 2.17 | 1.71 | 1.11 | 1.78 | 0.89 | 0.77 | 0.99 | 0.78 | 0.62 |
| EV / EBITDA | 11.06 | 12.35 | 14.43 | 12.54 | 6.93 | 13.08 | 7.89 | 6.22 | 8.36 | 7.17 | 6.11 |
| EV / EBIT | 16.37 | 18.28 | 22.35 | 20.27 | 12.69 | 33.11 | — | 18.74 | 14.94 | 14.61 | 15.28 |
| EV / FCF | — | 24.04 | 29.74 | 23.04 | 13.53 | 19.66 | 23.37 | 21.74 | 22.77 | 26.59 | 7.40 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 11.3% | 11.3% | 9.7% | 8.4% | 9.4% | 6.3% | 4.1% | 5.8% | 6.6% | 5.3% | 4.1% |
| Net Profit Margin | 14.0% | 14.0% | 3.2% | 1.9% | 6.0% | 3.5% | -14.1% | 1.5% | -16.8% | -9.1% | 2.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.8% | 12.8% | 3.0% | 1.6% | 6.8% | 3.8% | -13.6% | 1.5% | -14.0% | -6.4% | 1.5% |
| ROA | 7.3% | 7.3% | 1.6% | 0.9% | 3.7% | 2.1% | -8.5% | 1.0% | -9.8% | -4.9% | 1.2% |
| ROIC | 6.8% | 6.8% | 5.4% | 4.4% | 6.7% | 4.5% | 2.8% | 4.3% | 4.5% | 3.3% | 2.5% |
| ROCE | 7.2% | 7.2% | 5.8% | 4.9% | 7.2% | 4.7% | 3.1% | 4.6% | 4.8% | 3.4% | 2.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.31 | 0.31 | 0.45 | 0.47 | 0.45 | 0.39 | 0.30 | 0.14 | 0.19 | 0.03 | 0.03 |
| Debt / EBITDA | 2.08 | 2.08 | 3.27 | 3.86 | 2.49 | 2.83 | 2.50 | 1.17 | 1.82 | 0.43 | 0.44 |
| Net Debt / Equity | — | 0.06 | 0.23 | 0.27 | 0.26 | 0.15 | 0.12 | -0.02 | -0.01 | -0.15 | -0.12 |
| Net Debt / EBITDA | 0.38 | 0.38 | 1.69 | 2.18 | 1.40 | 1.07 | 1.01 | -0.15 | -0.08 | -1.86 | -1.74 |
| Debt / FCF | — | 0.74 | 3.48 | 4.00 | 2.73 | 1.61 | 2.98 | -0.53 | -0.21 | -6.88 | -2.10 |
| Interest Coverage | 95.60 | 95.60 | 22.89 | 8.02 | 9.20 | 9.49 | -59.96 | 7.00 | 85.57 | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.84 | 1.84 | 1.43 | 1.28 | 1.16 | 1.38 | 1.29 | 1.21 | 1.33 | 1.56 | 1.59 |
| Quick Ratio | 1.72 | 1.72 | 1.33 | 1.18 | 1.07 | 1.30 | 1.16 | 1.11 | 1.22 | 1.47 | 1.50 |
| Cash Ratio | 0.92 | 0.92 | 0.64 | 0.58 | 0.52 | 0.69 | 0.57 | 0.49 | 0.62 | 0.82 | 0.75 |
| Asset Turnover | — | 0.55 | 0.49 | 0.47 | 0.60 | 0.56 | 0.63 | 0.64 | 0.55 | 0.56 | 0.54 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 67.45 | 66.48 | 64.92 | 52.79 | 58.43 | 48.74 | 55.94 | 65.20 | 57.22 | 54.10 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.2% | 1.1% | 1.1% | 1.5% | 1.9% | 1.1% | 2.3% | 2.0% | 1.7% | 1.9% | 2.2% |
| Payout Ratio | 15.7% | 15.7% | 64.7% | 116.8% | 28.1% | 49.4% | — | 103.9% | — | — | 82.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.7% | 7.0% | 1.7% | 1.3% | 6.7% | 2.2% | — | 1.9% | — | — | 2.6% |
| FCF Yield | 4.8% | 4.3% | 3.8% | 5.3% | 9.3% | 5.5% | 4.9% | 4.5% | 4.4% | 3.0% | 10.5% |
| Buyback Yield | 1.0% | 0.9% | 0.7% | 2.2% | 1.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.6% |
| Total Shareholder Yield | 2.2% | 2.0% | 1.8% | 3.7% | 3.8% | 1.1% | 2.3% | 2.0% | 1.7% | 1.9% | 2.8% |
| Shares Outstanding | — | $570M | $574M | $579M | $593M | $593M | $588M | $588M | $583M | $581M | $583M |
Conglomerate structural complexity
Based on reported figures, NWSA trades at a 10.46x EV/EBITDA multiple, which appears to reflect a persistent conglomerate discount when compared to the higher multiples commanded by pure-play digital real estate and data peers, suggesting the market may be mispricing the company's high-margin B2B assets.
The current forward P/E of 23.99 implies significant growth expectations that may be difficult to reconcile with the slower-growing legacy print segments. Investors should monitor whether the market continues to apply a blanket discount to the entire entity, effectively ignoring the superior earnings quality of the Dow Jones segment.
As reported in recent financial statements, NWSA's ROIC has remained in the low single digits, fluctuating between 1.0% and 3.5% over the last ten quarters, which indicates that the company is struggling to generate meaningful returns on its invested capital relative to its cost of capital.
This low return profile appears to be driven by the heavy capital requirements of the legacy media business, which offsets the higher returns generated by the digital real estate and data segments. The lack of consistent compounding suggests that management's capital allocation strategy is currently focused on maintaining scale rather than maximizing return on invested capital.
According to quarterly data, the company's cash conversion cycle has shown significant variance, reaching 67 days in 2026Q3, which suggests that operational efficiency is frequently disrupted by the disparate nature of the company's business units and their varying payment terms with customers and suppliers.
The fluctuation in days sales outstanding, which peaked at 76 days in 2026Q3, indicates potential challenges in managing receivables across the global portfolio. This volatility warrants further investigation into whether the company's working capital management is being optimized or if it is simply a byproduct of the diverse, multi-industry operating model.
As noted in recent market analysis, the P/E ratio is the most commonly misapplied metric for NWSA, as it fails to account for the significant non-operating items and the consolidation of the REA Group, which distort the company's true earnings power and cash generation capabilities.
Investors should instead focus on a sum-of-the-parts valuation or EV/EBITDA, which better isolates the performance of the high-margin Dow Jones and digital real estate segments. Relying on a consolidated P/E ratio risks misinterpreting the company's valuation by conflating high-growth digital assets with declining legacy media operations.
Includes 30+ ratios · 15 years · Updated daily
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Quick answers to the most common questions about buying NWSA stock.
News Corporation's current P/E ratio is 13.0x. The historical average is 40.1x.
News Corporation's current EV/EBITDA is 11.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.9x.
News Corporation's return on equity (ROE) is 12.8%. The historical average is -0.8%.
Based on historical data, News Corporation is trading at a P/E of 13.0x. Compare with industry peers and growth rates for a complete picture.
News Corporation's current dividend yield is 1.21% with a payout ratio of 15.7%.
News Corporation has 100.0% gross margin and 11.3% operating margin. Operating margin between 10-20% is typical for established companies.
News Corporation's Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.